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Reputation Activity
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sixgun got a reaction from HerefordBullyun in Gold Monitoring Thread £ GBP only
Just profit taking by a trader who dumped $2.5 billion of gold futures on the market in a less than a couple of minutes. That's normal profit taking don't you know. Nothing to see here. Move on.
These controlled media types do not have a clue about what is going on and make up any old sh*t or they are liars.
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sixgun got a reaction from mr1030 in Gold Monitoring Thread £ GBP only
Just profit taking by a trader who dumped $2.5 billion of gold futures on the market in a less than a couple of minutes. That's normal profit taking don't you know. Nothing to see here. Move on.
These controlled media types do not have a clue about what is going on and make up any old sh*t or they are liars.
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sixgun reacted to ArgentSmith in Gold Monitoring Thread £ GBP only
He tried not to spook the market by selling in tranches 😂
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sixgun got a reaction from ArgentSmith in Gold Monitoring Thread £ GBP only
Just profit taking by a trader who dumped $2.5 billion of gold futures on the market in a less than a couple of minutes. That's normal profit taking don't you know. Nothing to see here. Move on.
These controlled media types do not have a clue about what is going on and make up any old sh*t or they are liars.
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sixgun got a reaction from ArgentSmith in Gold Monitoring Thread £ GBP only
It's the thought that counts.
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sixgun got a reaction from Midasfrog in Buying from the European Mint shop in Tallinn
i would ask @BackyardBullion about the exact whereabout of the European Mint. He has been there to pick up silver shot so he is a good person to give you more details.
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sixgun got a reaction from frugalman in Self employment and selling.
i suspect the poppies are in memory of fallen comrades.
i think Bully will be back once he has shown his respect.
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sixgun got a reaction from HerefordBullyun in Self employment and selling.
i suspect the poppies are in memory of fallen comrades.
i think Bully will be back once he has shown his respect.
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sixgun got a reaction from frugalman in Self employment and selling.
The reason why i ask about the line of business is it may influence how your sales would be viewed. You might be a self employed kitchen fitter, or a web designer or whatever. So that you are self employed is neither her nor there. If you were a Trotter's trader - buying and selling as a business, then buying and selling is much more likely to be viewed as an extension of your business.
If you are carrying on as a business, then you will be viewed as a business.
To some extent it depends how much buying and selling you intend to do.
As pointed out you can sell stuff online effectively as a business as long as your turnover is £1000 or less in the tax year. You are a very small time trader - so small time that HMRC and the Government don't think it is worth while the paperwork chasing you for a few quid, so they have made this rule.
Selling more than £1000 online however doesn't necessarily make you a business- you might sell £20k online and still not be a business. It doesn't take much to exceed the £1000 - sell a 1 oz gold coin and you have blown through that.
What matters is how you present yourself.
If you present yourself as a private individual selling bits and pieces online to rearrange your collection of coins - you don't give yourself some sort of name like Frugal Precious Metals - you don't run with a separate bank account - you aren't clearly flipping coins on a regular basis etc etc - then you are ok.
There is the CGT allowance as well as that UK coins are CGT free. You could sell coins in your wife's name as well for example and so double the CGT. i posted about selling personal possessions - chattels.
https://www.gov.uk/government/publications/chattels-and-capital-gains-tax-hs293-self-assessment-helpsheet/chattels-and-capital-gains-tax-2020-hs293
Disposals of single chattels
How to calculate gains and losses
You do not need to calculate any gain on the disposal of any single chattel if the disposal proceeds did not exceed £6,000. If the proceeds exceeded £6,000 but were not more than £15,000, the amount of the gain to return depends on the amount of the:
disposal proceeds actual gain So in effect this is in addition to your CGT allowance b/c you don't have to calculate the gain to set against the CGT allowance.
If you are in business you will likely have an accountant / bookkeeper - i would put this past them but if you don't go mad, if you sell moderately to rearrange your collection as it develops i don't think there should be an issue.
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sixgun got a reaction from frugalman in Self employment and selling.
What line of business are you self employed in?
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